Iran’s 7-month tax income grows 28%

Iran’s direct tax revenues in the first seven months of the current Iranian calendar year, which began on March 21, rose by 28 percent compared to the same period in the previous year, according to Iran’s Tax Affairs Organization Director Ali Askari.

The country’s direct tax income amounted to 219 trillion rials (about $8.8 billion based on the U.S. dollar official exchange rate of 24,900 rials), IRNA quoted Askari as saying.

In July, Askari said that Iran’s tax revenues are forecasted to amount to 450.8 trillion rials (about $18 billion) in the current Iranian calendar year, which began on March 21, up 35 percent year on year.

Iran gained as much as 280 trillion rials (some $11.3 billion) in tax incomes in the past calendar year.

Iran offers one hundred percent tax exemption for an unlimited period of time to foreign investment in the agriculture sector, the Iranian deputy economy minister Behrouz Alishiri has said.

Tax exemption up to 80 percent are being offered to investments in the industry and mine sector, he said, adding that the figure will be one hundred percent for a period of ten years in underdeveloped areas.

Tax exemptions in free trade zones will be extended for 20 years, he added.